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Banks Must Pay High Yield On Passbook Interest

Banks charge at lest 20% on failure to pay credit card payments on time , yet only pay 1-2% on CD’s and passbook and checking accounts . It’s high time the Federal banking agencies force them to pay at least 5 1/4% on all savings accounts minimum. Many people at one time in the ending in the 1980’s relied on interest income as a retirement supplement. This must be brought back as seniors find it close to impossible to retire today on Social Security and it must be implemented soon.end of editorial

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